They think the fact they are smart, means they have "a right" to be successful.

This is of course is not true you make money not for being clever or working hard, but for getting market direction right.

The really successful traders know this, they learn what they need to know, have essentially simple FOREX trading systems and are humble, in terms of their attitude to the market.

Many traders who make millions have no formal qualifications, yet they make money, that's because they learn the RIGHT knowledge and work smart rather than hard.

3. Confidence and discipline

If you develop your own trading methodology, you will know how and why it works - this means you will be confident in it and apply it with discipline in the market.

Discipline is a hard trait to acquire and it's hard to put into words actually how hard it is.

Staying for example with a trading system through a string of losses can be frustrating and this is where you need mental discipline to stick with your system.

More traders fail due to lack of discipline than any other character trait, but it's essential for FOREX Trading success.

It comes from learning your own trading methodology and having confidence in it.

4. Trade In Isolation

If you want to be successful in currency trading, then you need to trade in isolation.

The real pro traders understand this.

They don't discuss their trades with others, give or seek opinions, they focus on what their doing in the currency markets and ignore everyone else.

If you don't trade in isolation, you will find that your emotions get involved and discipline suffers.

5. Patience.

You can't hurry the currency markets, or profits so don't try. Trading requires immense patience to ride out losing periods and wait for good risk to reward opportunities to present themselves.

5. Love what your doing

Trading should be fun and you should love what you do. If you constantly are feeling nervous, don't like risk, constantly checking quotes and willing the market to go your way, then trading is not for you.

If you can approach online FOREX trading with the character traits above, you have the opportunity to achieve FOREX Trading success and make some great long term capital gains.